Canadian Dollar Rallies Most in 6 Weeks on Central-Bank Steps
This article is for subscribers only.
Canada’s dollar staged its biggest five-day rally since October after central banks including the Bank of Canada took steps this week to make it cheaper for lenders to borrow dollars during emergencies.
The Canadian dollar touched a two-week high yesterday as speculation about a possible European lending plan involving the International Monetary Fund buoyed demand for higher-yielding assets. Bank of Canada Governor Mark Carney is forecast to keep his key interest rate at 1 percent on Dec. 6, three days before European Union leaders meet in Brussels to discuss proposals aimed at progressing toward fiscal union.